But if you get lucky in the lottery of life and land an inheritance”
That’s really how they see it.
These people are sick.
What they are missing, is that if you inherit money, that you will be taxed on interest income or investment earnings from the inheritance.
This article starts from.a false premise that somehow there are no taxes owed in the inheritance situation.
“Life’s Lottery” goes back to Dick Gephardt in the early 1990’s.
Actually that is the one phrase in the whole article that actually made sense to me. I was lucky enough to be born to parents wealthy enough to pay my college tuition. A friend of mine who was born to poorer parents had to take out loans. I do not see that I did anything better than my friend (in many ways he is a smarter and better person than I am) yet I escaped a lifetime of indebtedness while he is still barely getting by because of those loans. Before you ask, his degree is in chemistry, not something like underwater basket weaving.
I am opposed to the estate tax, death tax, inheritance tax, whatever you want to call it, in all its forms. But let’s not kid ourselves into believing that everyone was dealt the same cards in life.